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For immediate release: Monday 28 November 2005
INVESTMENT FUND STATISTICS
OCTOBER 2005
Summary
- Investment funds under management £318 billion (October 2004 £260 billion)
- Total net industry sales £1.2 billion (October 2004 £902 million)
- Net retail sales £610 million (October 2004 £345 million)
- Net ISA sales £88 million (October 2004 £37 million)
Funds under management
Investment funds under management of £318 billion in October saw a fall of 2% from September but were 22% higher than October 2004. ISA funds under management of £42 billion also fell 2%, but were 19% higher than the previous year.
Graph showing funds under management since October 2004.
Retail sales in October were £610 million, down from September’s £802 million, but over 75% up on October last year. ISA sales in October were £88 million, compared with £47 million in September, more than double the level of October 2004. The most popular ISA sector in October was UK All Companies, accounting for 27% of gross ISA sales.
Net sales by asset class
Total net sales were £1.2 billion with bonds accounting for inflows of £441 million. Of the £610 million net retail sales, £279 million was invested in bonds, followed by £123 million in equities.
Graph showing net retail sales over the last 13 months.
Gross retail sales by sector and distribution channel
The most popular sector in October was UK All Companies, representing 16% of gross retail sales. The sector was favoured by intermediaries and accounted for 15% of gross retail business through this channel. Intermediary sales of UK All Companies funds also represented 72% of the sector’s gross retail sales.
The most popular distribution channel in October was the intermediary channel representing 79% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 48% of gross ISA sales.
Best selling sector
The Specialist sector was the most popular net retail sector in October with inflows of £148 million. The sector with the biggest outflows in October was the UK All Companies sector with net outflows of £105 million.
Richard Saunders, Chief Executive of the IMA commented:
“These figures continue the encouraging trend of recent months. Net retail sales are running at levels not seen for two years, and sales of investment fund ISAs are now showing some signs of picking up.”
-Ends-
Glossary
Detailed tables
1. Summary table
2. Funds under management by asset class
3. Unit trust/OEIC sales
4. Net sales by asset class
5. Gross retail sales – 10 year summary
6. Sector summary – current month
7. Retail business by sector and channel – current month
8. Summary of best and worst selling sectors
9. Funds under management – 13 month chart
10. Net retail sales – 13 month chart
11. Performance of average fund by IMA sector
If you have any comments on presentation of the monthly statistics please e-mail press@investmentuk.org
For further information, please contact:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898
Out of hours contact:
Mona Patel, Head of Communications, IMA 07834 089332
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